Last updated on May 31, 2021
Welcome to Ulity™!
This legally binding agreement contains a BINDING ARBITRATION CLAUSE and a CLASS ACTION WAIVER.
Ulity™ is a digital community that incentivizes users to learn from each other, share their knowledge and services, and create collective wealth. Ulity™ community members retain ownership of their personal data and digital assets, and receive points for the participation on our platform.
Ulity™ Foundation is a nonprofit organization whose mission is to foster and support the Ulity™ Platform, a digital application that incentivizes members to collectively share their knowledge and services while maintaining ownership of their digital assets. The Foundation oversees the maintenance, development, and global outreach of the Ulity™ Platform. A portion of all payments within the ecosystem of Ulity™ will be paid to the Foundation to fund ongoing platform development, improve the user interface, and enhance the content environment.
Ulity™ Token (UT) is the currency circulated through Ulity™.IO Wallet on the Ulity™ Platform. UT is it is a native digital currency that provides a cryptographically secure protocol for exchange exclusively through the Ulity™ Platform. UT allows users to measure the productivity utility of their data assets and convert them into digital currency. With the Ulity™.IO Wallet, members can hold UT, share it peer-to-peer, exchange it for goods and services, share donations and gifts on the Ulity™ Platform.
For more information about how Ulity™ uses Blockchain and Smart Contract technology, please see the BLOCKCHAIN section below.
YOUR SERVICE PROVIDER
The entity providing the Service is Ulity™ Foundation, a company operating under the laws of the United States.
CHANGES AND UPDATES
We frequently make changes to our Service. If these changes require updates to our Terms, we will notify you seven days before the announced changes take effect. If you continue to use Ulity™ after we update the Terms, you affirm receipt of and accept those changes. If you disagree with the changes, you promise to cease accessing or using our service.
You agree to keep your password confidential and hold yourself liable for all actions that occur through use of your credentials or your account.
If you lose your password or learn your login credentials have become compromised, you agree to notify Ulity™ as soon as possible. You acknowledge that actions that occur through use of your account are solely your responsibility.
MINORS USING OR ACCESSING Ulity™
By allowing your child to use Ulity™, you are subject to these Terms and take full responsibility for your child’s activity while they use Ulity™. If you do not feel comfortable agreeing to these terms in full, do not let your child access or use Ulity™.
BUSINESSES, CORPORATIONS, OR ENTITIES USING OR ACCESSING Ulity™
If you are using or accessing Ulity™ on behalf of a company or organization, you guarantee that you have the authority to act on behalf of that entity, and that the entity you claim to represent accepts these Terms in full.
TERMINATION OF SERVICE
Ulity™ reserves the right to modify or terminate its Service without notice. You agree that Ulity™ may refuse access to its Service without providing notice or rationale, especially in — but not limited to — cases where a user has violated the Terms. By agreeing to these Terms, you acknowledge that Ulity™ may revoke or interrupt your access to its Service at any time, for whatever reason.
You agree to access and use Ulity™ in accordance with the terms listed here and any applicable laws and regulations. In particular, you are not allowed to, and warrant that you will not attempt to:
In agreeing to these terms, you also affirm the directives laid out in our COMMUNITY GUIDELINES.
Ulity™’s native digital, cryptographically secured UT is designed to be used solely on the platform. The goal of introducing UT is to provide a convenient and secure mode of payment between users who interact within the Ulity™ Platform.
UT will initially be issued on the Hyperledger blockchain 2.0. Hyperledger is a decentralized platform that runs smart contracts. These are applications that run exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. The Ulity™ Platform will be implemented on the Hyperledger platform to leverage its smart contract functionality and minimize the gas costs to optimize the efficiency of the platform.
RIGHTS OF Ulity™ TOKEN HOLDERS
Ulity™ is designed to evolve over time, and may need to make changes such as updating its consensus protocol or adding new community guidelines as it grows. Through Ulity™’s DAO system, UT holders will have the opportunity to propose changes to the platform and community members, in return, can discuss, amend, and vote on these proposals.
To avoid conflicts of interest, the views of the community will be acknowledged, but ultimately community members are not connected with the Foundation in any manner. The assets and funds of the Foundation remain under the control of the relevant Board of Directors who shall independently ensure Ulity™’s security and financial well-being. The right to vote does not entitle UT holders to vote on the operation and management of the Ulity™ Foundation or their assets, and does not constitute any equity interest in the Ulity™ Foundation; their votes are solely limited to the functionality of Ulity™’s community platform.
UT does not in any way represent any shareholding, participation, right, title, or interest in the Foundation, its affiliates, or any other company, enterprise or undertaking, nor will UT entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities or any relevant jurisdiction. UT may only be utilized on the Ulity™ Platform, and ownership of UT carries no rights, express or implied, other than the right to use Ulity™ as a means to enable usage of and interaction within the Ulity™ Platform.
ASSUMPTION OF RISK AND LIMITATIONS ON LIABILITY
By using or accessing Ulity™, you acknowledge that there are risks associated with using an online blockchain service, and agree that Ulity™ is not responsible for any issues you experience while using its service, no matter their cause. Potential risks include but are not limited to hardware or software failure, introduction or spread of malware, and third parties obtaining unauthorized access to information stored within or associated with your account.
You agree to receive communications from Ulity™. The safety and security of Ulity™’s platform, which includes its users and their data security, are our top priority. By accessing or using Ulity™, you acknowledge that you are responsible for reading communications from Ulity™, especially those pertaining to updates, security concerns, functionality issues, and amendments to this agreement.
CHANGES TO SERVICE
Ulity™ is an ever-evolving community and platform. To best protect our users and ensure that our platform functions properly, we reserve the right to alter, change, modify, deactivate, discontinue Ulity™, in whole or in part.
You acknowledge that there will inevitably be circumstances in which such changes, especially when enacted to improve security, comply with legal requirements, prevent abuse, or ensure that our platform is functioning properly, must be done without notice. In some cases, these changes may affect all users or some users individually. Whenever reasonable, possible, and material to their use of Ulity™, we will notify affected users when we make changes.
You agree to respect the intellectual property rights of Ulity™ and the users who access its service. By accessing or using Ulity™, you promise that you will not infringe upon any intellectual property rights or privacy rights of any other person.
Except the materials identified below as YOUR CONTENT, you acknowledge that all rights, titles, and components that constitute the Service or its contents including applications, audio recordings, copyrights, data, designs, digital files, graphics, illustrations, images, information, logos, music, patents, photographs, service marks, software, text, trademarks, video, and the “look and feel” of the Service are owned by Ulity™ or, if applicable, a third-party licensor.
As the sole operator of your Ulity™ account, you are responsible for your use of our service, for any content you post, and any information you provide. You agree to comply with any applicable laws, regulations, and rules. We encourage you to only share content that you are comfortable sharing with others.
Ulity™ does not control its users or the third-party vendors who use its platform. We make no guarantees, promises, representations, or warranties about any content they post. While Ulity™ will moderate its platform in good faith and accordance with these TERMS and its COMMUNITY GUIDELINES, no user content, including linked websites or information found therein, should be misconstrued or interpreted as condoned by Ulity™. As such, you affirm that Ulity™ has no responsibility to monitor, review, or preemptively edit or screen content posted by any user.
As detailed above, you agree that all content and intellectual property rights related to the Service are either owned or licensed by Ulity™.
Subject to the limits of these TERMS, Ulity™ grants you a non-exclusive, limited, non-transferable, non-sublicensable, revocable, worldwide license to access and use our service. We reserve all rights related to our content not expressly granted to you in this agreement. You affirm that Ulity™ may terminate this license at any time, for any reason, and without notice.
You affirm that you are using the service at your own risk and that none of the information contained on our platform constitutes professional, legal, medical, or special advice. You promise to refrain from taking action without consulting a professional on the basis of content that Ulity™ hosts.
You affirm that you own or have the right to use any content that you post, upload, store, or transmit using Ulity™. This includes any data, media, or files you upload to our platform.
Specifically, you affirm that the content you upload is original to you and that you hold the rights necessary to comply with these TERMS without Ulity™ incurring any third-party obligations or liability when we exercise the rights and licences you grant us.
You are solely responsible for the content you post, upload, or circulate on Ulity™. By using Ulity™, you grant us perpetual, nonexclusive, transferable, royalty-free, sublicensable, and worldwide license to use, host, reproduce, modify, adapt, publish, translate, create derivative works from, distribute, perform, and display your content as part of our service.
You affirm that Ulity™ will not under any circumstances be liable for any content that you post, including misinformation in any user post or any damage, loss, or liability incurred by use of user content. Ulity™ reserves the right to suspend, remove, or permanently delete any content uploaded to our platform at any time, for any reason, and without notice.
If you believe any user content on Ulity™ violates our TERMS, please notify us at admin@Ulity™.org.
OTHER THAN AS EXPRESSLY STATED IN THIS AGREEMENT OR AS REQUIRED BY LAW, THE SERVICE IS PROVIDED “AS IS” AND Ulity™ DOES NOT MAKE ANY SPECIFIC COMMITMENTS OR WARRANTIES ABOUT THE SERVICE. FOR EXAMPLE, WE DON’T MAKE ANY WARRANTIES ABOUT: THE CONTENT PROVIDED THROUGH THE SERVICE; THE SPECIFIC FEATURES OF THE SERVICE, OR ITS ACCURACY, RELIABILITY, AVAILABILITY, OR ABILITY TO MEET YOUR NEEDS; OR THAT ANY CONTENT YOU SUBMIT WILL BE ACCESSIBLE ON THE SERVICE.
LIMITATIONS OF LIABILITY
EXCEPT AS REQUIRED BY APPLICABLE LAW, Ulity™, ITS AFFILIATES, OFFICERS, DIRECTORS, EMPLOYEES AND AGENTS WILL NOT BE RESPONSIBLE FOR ANY LOSS OF PROFITS, REVENUES, BUSINESS OPPORTUNITIES, GOODWILL, OR ANTICIPATED SAVINGS; LOSS OR CORRUPTION OF DATA; INDIRECT OR CONSEQUENTIAL LOSS; PUNITIVE DAMAGES CAUSED BY:
THIS PROVISION APPLIES TO ANY CLAIM, REGARDLESS OF WHETHER THE CLAIM ASSERTED IS BASED ON WARRANTY, CONTRACT, TORT, OR ANY OTHER LEGAL THEORY.
Ulity™ AND ITS AFFILIATES’ TOTAL LIABILITY FOR ANY CLAIMS ARISING FROM OR RELATING TO THE SERVICE IS LIMITED TO THE GREATER OF: THE AMOUNT OF REVENUE THAT Ulity™ HAS PAID TO YOU FROM YOUR USE OF THE SERVICE IN THE 12 MONTHS BEFORE THE DATE OF YOUR NOTICE, IN WRITING TO Ulity™, OF THE CLAIM; AND USD $500.
To the extent permitted by applicable law, you agree to defend, hold harmless, indemnify, and otherwise protect Ulity™, its affiliates, officers, directors, employees, contractors, and agents, from and against any and all claims, damages, obligations, losses, liabilities, costs or debt, and expenses (including but not limited to attorney's fees) arising from:
This defense and indemnification obligation will survive this Agreement and your use of the Service.
THIRD-PARTY LINKS AND SERVICES
Ulity™ contains links to third-party websites and online services that it does not own or operate. Ulity™ has no control over, and thus assumes no responsibility for, such websites and online services. Be cautious when you follow links hosted on Ulity™, and contact us if you see something suspicious. We highly recommend that you read the terms and privacy conditions for any third-party website or online service that you access using Ulity™.
YOU AND Ulity™ AGREE THAT ANY CAUSE OF ACTION ARISING OUT OF OR RELATED TO THE SERVICES MUST COMMENCE WITHIN ONE YEAR AFTER THE CAUSE OF ACTION ACCRUES. OTHERWISE, SUCH CAUSE OF ACTION IS PERMANENTLY BARRED.
You agree that disputes between you and Utility will be resolved by mandatory binding arbitration.
CLASS ACTION WAIVER
You waive any right to participate in a class-action lawsuit or class-wide arbitration.
If it turns out that a particular term of this Agreement is not enforceable for any reason, this will not affect any other terms.
If you fail to comply with this Agreement and we do not take immediate action, this does not mean that we are giving up any rights that we may have (such as the right to take action in the future).
Similarly, failure to comply with agreement does not render its provisions inactionable. These terms will survive the termination of your account or any agreement between you and Ulity™.
In these terms, “include” or “including” means “including but not limited to,” and any examples we list are for illustrative purposes.
You agree that Ulity™ will not be held liable for any failure or delay on the performance of its obligations when events beyond reasonable control, including denial-of-service attacks, a failure by a third party hosting provider or utility provider, strikes, shortages, riots, fires, acts of God, war, terrorism, and governmental action, interrupt Ulity™’s ability to provide its service.
All claims arising out of or relating to these terms or the Service will be governed by United States law, except United States conflict of laws rules, and will be litigated exclusively in the federal or state courts of CITY, STATE/TERRITORY, COUNTRY. You and Ulity™ consent to personal jurisdiction in those courts.
Ulity™. All Rights Reserved.
201 E Huntington Drive, Suite 200 Monrovia, CA. USA. 91016.